This discussion tackles pressing questions from medical students and residents, exploring tax benefits of marriage and handling inherited whole life policies. The podcast delves into student loans, financial literacy, and makes a case for diversifying investments when moving states. There's also intriguing advice on lucrative side gigs, like getting paid for surveys, particularly aimed at those with medical expertise. Navigating housing decisions and understanding financial planning is emphasized, offering practical solutions for a stable future.
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question_answer ANECDOTE
Zion Narrows Hiking Anecdote
James Dahle shares his experience hiking and floating in Zion National Park's Narrows.
Floating the Narrows was easier and more enjoyable than hiking it, offering a special perspective on this popular trail.
volunteer_activism ADVICE
Cautious Borrowing with PSLF
Don't borrow more student loans than necessary, even with public service loan forgiveness (PSLF) available.
Consider the risk PSLF might change or not apply and always honor loan contract terms.
volunteer_activism ADVICE
Build Wealth Without Loans
No need to take loans if you have none; invest saved money prudently instead.
Get a written financial plan and follow it consistently to build wealth effectively.
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Today we are answering a variety of questions from medical students and residents. We talk about the tax benefits of getting married and what to do with a whole life policy that was given to you. We tackle some questions about filling taxes as a med student and whether or not to sell a fully paid off house if you are moving states for residency. We answer a student loan question and give some advice on how to dive into learning about financial literacy.
As a white coat, you have valuable knowledge. Various companies want that knowledge. And they’re willing to pay you for it! That’s why we’ve put together a list of recommendations for companies that pay you to take surveys. If you’re looking for a profitable side gig for not too much effort, getting paid for surveys could be the perfect solution for you. You can make extra money, start a solo 401(k), and use your medical knowledge to impact new products. One of the WCI columnists makes an extra $30,000 a year just doing these surveys. Sign up today and use a fraction of your downtime to make extra cash! Go to https://www.whitecoatinvestor.com/MDSurveys. You can do this and The White Coat Investor can help.
The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
White Coat Investor Podcast